Madrigal Pharmaceuticals, Inc.

NasdaqGS:MDGL Stock Report

Market Cap: US$12.3b

Madrigal Pharmaceuticals Valuation

Is MDGL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of MDGL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: MDGL ($531.52) is trading below our estimate of future cash flow value ($1462.5)

Significantly Below Future Cash Flow Value: MDGL is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MDGL?

Key metric: As MDGL is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for MDGL. This is calculated by dividing MDGL's market cap by their current revenue.
What is MDGL's PS Ratio?
PS Ratio9.6x
SalesUS$1.28b
Market CapUS$12.35b

Price to Sales Ratio vs Peers

How does MDGL's PS Ratio compare to its peers?

The above table shows the PS ratio for MDGL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average27.3x
IBRX ImmunityBio
54.2x49.68%US$9.0b
BBIO BridgeBio Pharma
18.3x36.18%US$13.2b
ARWR Arrowhead Pharmaceuticals
14x29.05%US$9.6b
KRYS Krystal Biotech
22.6x34.70%US$10.0b
MDGL Madrigal Pharmaceuticals
9.6x27.97%US$12.3b

Price-To-Sales vs Peers: MDGL is good value based on its Price-To-Sales Ratio (9.6x) compared to the peer average (27.3x).

Historical Price to Sales Ratio

Historical Price to Sales Ratio compares a stock's price to its sales over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Sales Ratio vs Industry

How does MDGL's PS Ratio compare vs other companies in the US Biotechs Industry?

123 CompaniesPrice / SalesEstimated GrowthMarket Cap
BIIB Biogen
3.2x2.60%US$32.37b
BMRN BioMarin Pharmaceutical
3.6x10.36%US$12.60b
LEGN Legend Biotech
2.7x15.48%US$3.41b
BCRX BioCryst Pharmaceuticals
2.4x7.14%US$2.22b
MDGL 9.6xIndustry Avg. 12.6xNo. of Companies123PS01632486480+
123 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: MDGL is good value based on its Price-To-Sales Ratio (9.6x) compared to the US Biotechs industry average (12.6x).

Price to Sales Ratio vs Fair Ratio

What is MDGL's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MDGL PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio9.6x
Fair PS Ratio14.5x

Price-To-Sales vs Fair Ratio: MDGL is good value based on its Price-To-Sales Ratio (9.6x) compared to the estimated Fair Price-To-Sales Ratio (14.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst MDGL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$531.52
US$678.06
+27.57%
16.03%US$962.00US$543.00n/a16
Sep ’27US$538.71
US$678.06
+25.87%
16.03%US$962.00US$543.00n/a16
Aug ’27US$467.32
US$682.93
+46.14%
16.18%US$962.00US$543.00n/a15
Jul ’27US$514.39
US$678.71
+31.95%
17.08%US$964.00US$542.00n/a14
Jun ’27US$481.23
US$679.29
+41.16%
16.96%US$964.00US$550.00n/a14
May ’27US$513.72
US$673.29
+31.06%
17.23%US$964.00US$536.00n/a14
Apr ’27US$529.84
US$668.57
+26.18%
17.68%US$964.00US$529.00n/a14
Mar ’27US$432.00
US$667.57
+54.53%
17.74%US$964.00US$529.00n/a14
Feb ’27US$489.31
US$657.13
+34.30%
18.53%US$964.00US$510.00n/a15
Jan ’27US$582.34
US$603.47
+3.63%
15.64%US$900.00US$502.00n/a15
Dec ’26US$579.45
US$563.80
-2.70%
9.69%US$650.00US$456.00n/a15
Nov ’26US$418.90
US$512.43
+22.33%
15.53%US$590.00US$266.00n/a14
Oct ’26US$449.14
US$489.54
+8.99%
16.35%US$567.00US$266.00n/a13
Sep ’26US$437.85
US$461.43
+5.39%
16.19%US$567.00US$266.00US$538.7114
Aug ’26US$302.17
US$425.57
+40.84%
15.06%US$541.00US$256.00US$467.3214
Jul ’26US$300.16
US$423.14
+40.97%
15.06%US$540.00US$248.00US$514.3914
Jun ’26US$275.26
US$423.14
+53.72%
15.06%US$540.00US$248.00US$481.2314
May ’26US$327.70
US$421.67
+28.67%
14.66%US$540.00US$248.00US$513.7215
Apr ’26US$323.98
US$414.07
+27.81%
14.92%US$539.00US$239.00US$529.8415
Mar ’26US$341.27
US$412.67
+20.92%
15.16%US$539.00US$239.00US$432.0015
Feb ’26US$334.80
US$375.60
+12.19%
22.14%US$530.00US$154.00US$489.3115
Jan ’26US$308.57
US$373.00
+20.88%
22.20%US$530.00US$155.00US$582.3415
Dec ’25US$328.19
US$372.20
+13.41%
22.12%US$530.00US$155.00US$579.4515
Nov ’25US$319.58
US$366.07
+14.55%
23.82%US$530.00US$155.00US$418.9015
Oct ’25US$209.33
US$362.53
+73.19%
23.14%US$511.00US$150.00US$449.1415
Sep ’25US$247.13
US$362.53
+46.70%
23.14%US$511.00US$150.00US$437.8515
US$678.06
Fair Value
21.6% undervalued intrinsic discount
16
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/18 23:48
End of Day Share Price 2026/09/18 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Madrigal Pharmaceuticals, Inc. is covered by 28 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Eliana MerleBarclays
"Eliana MerleBarclays
Matthew LuchiniBMO Capital Markets Equity Research